News from The West. at the risk of wrath from TC spoke to real estate people in Rockingham W.A. yesterday. Interesting whats going on confirms my own views. The first home buyers are coming back but this time buying the $350 - $400 bracket. The outlying suburbs are not booming but steady increase in sales and supply slowly dropping. Agents are starting to put $25,000 onto the price tag. The higher priced properties are dead, vendors keep listing changing agents and trying to get prices from 2007. Any trends. With first home buyers buying the cheaper stuff for own residence the supply of rentals in slow drop. Rehters are now having to look at the $500,000 houses which rent for more and face uncertanty as many of these properties are waiting to be sold if market improves. Predictions The agent is conservative, six months time he does not think the sub $300, 000 market will exist. Selling problems Biggest put off for buyers in area. single driveways. In the outer burbs everybody has a car. Even if there is room to make the driveway bigger most buyers will simply walk away it is too hard. Hot suburbs Get lost. I am not telling until I have one to sell. This info is related to specific area and is not indicative of all Perth.
